Name of the Project
Yaouré gold mine – CMA underground project.

Location
Southern edge of Lake Kossou, 35 km north-west of the capital city of Yamoussoukro, in Côte d’Ivoire.

Project Owner/s
Africa-focused gold mining company Perseus Mining.

Project Description
The CMA underground project will become Côte d’Ivoire’s first mechanised underground mine.

Yaouré has combined measured and indicated mineral resources estimated at 55.6-million tonnes grading 1.52 g/t gold containing 2.7-million ounces of gold. This includes 7.4-million tonnes grading 4.16 g/t gold containing 996 000 oz of gold associated with the CMA underground project.

A further 17.4-million tonnes of material, grading 1.7 g/t gold, containing 926 000 oz of gold are classified as inferred mineral resources. This includes 4.5-million tonnes grading 3.5 g/t containing 510 000 oz of gold associated with the CMA underground project.

The project, when combined with the openpit ore sources, based on the current estimate of ore reserves, will extend the Yaouré gold mine’s operational life until at least 2035. The move to underground operations allows for further use of the CMA deposit, which has proved to be a reliable foundation of the Yaouré operation to date.

At steady-state production rates, it is planned that underground ore will represent about 20% of the tonnes of ore mined on the site from opencut and underground operations, and will be mined at 700 000 t/y to 770 000 t/y over the life of the currently defined underground operation.

There is potential for further life extensions through additional discoveries of mineralisation down dip from the currently delineated mineralisation.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Development capital for the CMA underground project has increased by $9-million, from the approved $172-million to $181-million, reflecting additional remediation work required on the eastern wall of the CMA openpit to reduce access risks associated with ground instability.

Planned Start/End Date
Project development is due to start in mid-2025 with the development of the first portal. First production is targeted for the first quarter of the 2027 financial year, with commercial production expected to start in the 2027 financial year.

Latest Developments
Perseus Mining has reported the successful completion of the first underground production blast.

Excavation of the first production ore started immediately, with this event highlighted as a key milestone for the project, signalling the continuation of the ramp-up towards steady-state production, planned for the third quarter of the 2027 financial year.

Key Contracts, Suppliers and Consultants
Byrnecut (primary mining contractor for the project).

Contact Details for Project Information
Perseus Mining, tel +61 8 6144 1700 or email IR@perseusmining.com.